Arkema is engaged in the global chemical industry which is a processing industry based on the transformation in one or several stages of raw materials (oil derivatives, gas, minerals, natural products) into more or less complex chemical products, or into plastics obtained by polymerization. In addition, Co. manufactures a wide range of products for other major industries: construction, packaging, chemicals, automotive, electronics, food manufacturing, pharmaceuticals, etc. Co. operates in this industrial context with a business portfolio focused on three segments: High Performance Materials, Industrial Specialties, and Coating Solutions.
  • TickerAKE
  • ISINFR0010313833
  • ExchangeEuronext Paris
  • SectorChemicals
  • CountryFrance
Alain William ...
  • Anis Zgaya
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Martial Descoutures
  • Michael Foundoukidis
  • Nicolas Thorez
  • Oussema Denguir
  • Philippe Ourpatian

ODDO BHF Small & MIDCAP MORNING NEWS - 05/14/2020

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/14/2020

...

Jérôme VINERIER

Short term view - ARKEMA : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €87.81. The background trend would be questioned should prices rise above €99.54.

Jérôme VINERIER

Analyse court terme - ARKEMA : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 87,81 €. La tendance de fond serait remise en cause en cas de franchissement de 99,54 €.

Jérôme VINERIER

Analyse court terme - ARKEMA : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 87,81 €, puis 84,28 €. Le franchissement de 99,54 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - ARKEMA : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €87.81, then €84.28. Passing €99.54 would question the continuation of the fall.

Jérôme VINERIER

Medium term view - ARKEMA : The trend is uncertain.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

Alain William ...
  • Anis Zgaya
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Martial Descoutures
  • Michael Foundoukidis
  • Nicolas Thorez
  • Oussema Denguir
  • Philippe Ourpatian

ODDO BHF Small & MIDCAP MORNING NEWS - 05/14/2020

...

Alain William ...
  • Anis Zgaya
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Martial Descoutures
  • Michael Foundoukidis
  • Nicolas Thorez
  • Oussema Denguir
  • Philippe Ourpatian

ODDO BHF Small & MIDCAP MORNING NEWS - 14/05/2020

...

Emmanuel Matot

ODDO : Visibility too poor to commit to full-year guidance

>Arkema hit by the pandemic as of Q1 as expected – Watch out in particular for exposure to construction in Q2 - Last week, Arkema reported an EBITDA of € 300m of Q1 20, a level in line with expectations (consensus = € 298m) and in line with last year (-19% as reported vs -1% in 2019) due to the impacts of the COVID-19 epidemic (€ 45m), the continued illegal imports of fluorinated gases into Europe (€ 20m) and the strikes at the beginning of the year against the pensio...

Emmanuel Matot

ODDO : Une visibilité trop faible pour s’engager sur des guidances annuelles

>Arkema impacté comme prévu dès le T1 par la crise sanitaire – Attention surtout à l’exposition construction au T2 - La semaine dernière, Arkema a publié un EBITDA de 300 M€ au titre du T1 20, un niveau conforme aux attentes (consensus = 298 M€) et en rupture par rapport à l’année dernière (-19% en publié vs -1% en 2019) du fait des impacts de l’épidémie COVID-19 (45 M€), de la poursuite des imports illégaux en Europe de gaz fluorés (20 M€) et des grèves de début d’an...

Emmanuel Matot

Arkema : Confirmation of significant difficulties in the short term

>Confirmation of EBITDA down sharply in Q1 - Arkema has just reported its Q1 results. We will maintain an EBITDA down significantly by 19% to € 300m, a satisfactory level compared to expectations (ODDO BHF/consensus = € 283m/€ 298m) and marking a break compared to 2019 (-1%).As expected, the COVID-19 health crisis impacted performance to the tune of € 45m. The automotive and transport, oil/gas and electronics markets remained particularly under pressure. Added t...

Arkema - December 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Moody's assigns Baa3 rating to Arkema's hybrid notes; stable outlook

Rating Action: Moody's assigns Baa3 rating to Arkema's hybrid notes; stable outlook. Global Credit Research- 14 Jan 2020. Frankfurt am Main, January 14, 2020-- Moody's Investors Service today assigned a Baa3 long-term rating to the proposed issuance of E300 million Undated Deeply Subordinated Fixed Rate Resettable Notes issued by Arkema.

Arkema - September 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Arkema: Update of key credit factors following upgrade to Baa1

Arkema's profitability and leverage have shown resilience in light of macroeconomic weakening

Moody's upgrades Arkema to Baa1, stable outlook

Rating Action: Moody's upgrades Arkema to Baa1, stable outlook. Global Credit Research- 13 Nov 2019. Frankfurt am Main, November 13, 2019-- Moody's Investors Service today upgraded to Baa1 from Baa2 the long-term issuer rating of Arkema and the senior unsecured regular bond rating as well as the senior unsecured medium-term note programme to Baa1 from Baa2.

Alexandre Iatrides ...
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/14/2020

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/05/2020

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Jean Sassus
  • Louis Boujard, CFA
  • Manuel Martin, CEFA,CREA
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Pierre Tegner
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/06/2020

Faced with uncertainty as to what shape the next recovery cycle may take, we have attempted to build a sector allocation approach based on three pillars: 1/ buy sectors offering an EY - Bund spread higher than the long-term average) 2/ minimise the risk on earnings expectations by favouring sectors for which the speed of revision is higher than that achieved at the same time stage of the crisis in 2008-2009 3/ favour sectors whose price performance is more severe than the decline in e...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Jean Sassus
  • Louis Boujard, CFA
  • Manuel Martin, CEFA,CREA
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Pierre Tegner
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/05/2020

Face à l’incertitude que représente la forme du prochain cycle de reprise, nous avons tenté de bâtir une allocation sectorielle fondée sur trois piliers : 1/ achat de secteurs offrant un spread EY – Bund supérieur à la moyenne de long terme, 2/ minimisation du risque sur les résultats en favorisant les secteurs dont la vitesse de révision est supérieure à celle atteinte, au même stade temporel de la crise, en 2008-09, 3/ favoriser les secteurs dont la performance prix est plus sévère ...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Johanna Jourdain
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Samantha Jeary
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/03/2020

Our new production scenario (-12%, of which -32% of H1) prompts us to a further marked downward revision to our estimates (~-60% since January, -40% vs 2020 consensus estimates). Whilst valuations might now suggest that a large portion is already factored in, despite the recent rebound, visibility remains too low for us to be more constructive and we maintain our strict stock picking strategy. Michelin, Volkswagen, Peugeot and Plastic Omnium remain our preferred stocks whilst we are s...

ARKEMA receives two new qualifications and slightly improves to Neutral

The independent financial analyst theScreener just changed two ratings for the qualification of ARKEMA (FR), active in the Commodity Chemicals industry. Its market behaviour has improved and can now be considered as moderately risky; its fundamental valuation receives an improved star rating and now shows 3 out of 4 stars. theScreener considers that these elements slightly improve the general evaluation, which passes therefore to Neutral. As of the analysis date February 25, 2020, the closing price was EUR 89.90 and its expected value was estimated at EUR 87.93.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Bourgoin Pierre-Antoine

Arkema - Assemblée Générale des actionnaires du 19 mai 2020

A la vue des récents événements relatifs au Covid-19, dont les conséquences restent encore non quantifiables, Proxinvest est favorable à l'abaissement de la distribution de dividendes initialement prévue (résolution 3). Nous n'émettons pas d'avis défavorable au renouvellement de Thierry Le Hénaff, Président Directeur Général (résolution 5). Concernant la politique de rémunération du Président Directeur Général, bien que l'augmentation de la rémunération fixe et du montant maximum de la rémunération variable annuelle fasse l'objet d'un ajournemennt, elle constitue une aggravation de la précéd...

Expert Corporate Governance Service (ECGS)

Arkema – AGM 19 May 2020

Resolution 3: In view of the recent events relating to Covid-19, which are not yet quantifiable, ECGS is in favour of lowering the dividend distribution initially planned.   Resolution 5: We do not issue an unfavourable opinion on the renewal of the term of office of Thierry Le Hénaff, Chairman and Chief Executive Officer.   Resolution 7: Concerning the compensation policy for the Chairman and Chief Executive Officer, although the increase in the fixed compensation and the maximum amount of annual variable compensation is subject to deferment, it constitutes a worsening of the previous pol...

Charles Pinel

Arkema - Assemblée générale des actionnaires du 21 mai 2019

François Enaud, administrateur référent non indépendant car en fonction depuis 13 ans, va quitter le conseil à l'issue de cette assemblée générale et sera remplacé à ce poste par un membre indépendant, Hélène Moreau-Leroy. Par ailleurs, autre point positif, le conseil est composé d'une majorité de membres libres de conflits d'intérêts potentiels. Dans ces conditions, les nominations et renouvellements proposés seront tous soutenus (résolutions 5 à 8). De nouveau, l'attention des actionnaires est attirée sur les niveaux de rémunération du Président-Directeur général qui paraissent excessives à...

Expert Corporate Governance Service (ECGS)

Arkema - AGM and EGM 21 May 2019

François Enaud, Lead Director, who is not considered as independent since he has been in office for 13 years, will leave the Board at the end of this general meeting and will be replaced by an independent member, Hélène Moreau-Leroy. Another positive point, the Board is composed by a majority of independent members. Accordingly, ECGS recommends to APPROVE all four re-elections (resolutions 5 to 8).  Once again, shareholders' attention is drawn to the excessive compensation levels of the Chairman and Chief Executive Officer, which amount to € 4.6 million in 2018. A similar amount could be allo...

Arkema – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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